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Vaselesa [24]
3 years ago
7

Exercise 1-13 Identifying effects of transactions using the accounting equation LO P1 Ming Chen began a professional practice on

June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions. a. Owner Invested $59,000 cash in the company along with equipment that had a $16,000 market value in exchange for its common stock. b. The company paid $2,500 cash for rent of office space for the month. C. The company purchased $17,000 of additional equipment on credit (payment due within 30 days). d. The company completed work for a client and Immediately collected the $2,500 cash earned. e. The company completed work for a client and sent a bill for $7,300 to be received within 30 days. f. The company purchased additional equipment for $5,900 cash. g. The company paid an assistant $3,500 cash as wages for the month. h. The company collected $4,600 cash as a partial payment for the amount owed by the client in transaction e. 1. The company paid $17,000 cash to settle the liability created in transaction c. J. The company paid $1,100 cash in dividends to the owner (sole shareholder).
Business
1 answer:
Oksi-84 [34.3K]3 years ago
8 0

Answer:

I used an excel spreadsheet since there is not enough room here.      

Explanation:

Download pdf
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Suppose independent truckers operate in a perfectly competitive constant cost industry. If these firms are earning positive econ
Deffense [45]

Answer:

The price of trucking services would fall until equilibrium prices are reached. Only normal profit would be earned in the long run

Explanation:

A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.  

In the long run, firms earn zero economic profit.  If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.  

Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.  

8 0
3 years ago
Some laws prohibit discrimination in employment. These laws promote which of the following primary functions of​ law? A. promoti
Nostrana [21]

Answer:

A. promoting social justice

Explanation:

Discrimination in any manner is prohibited at all the public places, and work places are part of such places covered.

There cannot be any discrimination on the grounds of religion, color, gender, or by any other categorization.

In this manner, every individual is treated equally, irrespective of the background he or she belongs too.

This provides a social justice to every individual. In this manner the social status, personality is not hindered.

7 0
3 years ago
7.37 For the net cash flow series, (a) determine the number of possible i* values using the two sign tests, (b) find the EROR us
nlexa [21]

Answer:

The answer is 25.19% .

Note: The values were not stated for the net series cash flows, during my research and i found the complete question and solved it.

Explanation:

<em>From the question given,</em>

<em>The first step is to make use of a table for the net cash flow series</em>

<em>Year                      1                  2                3              4             5             6</em>

<em>Net cash flow    $4100   $2000         $7000         $12000  $700       $800</em>

<em>Then,</em>

<em>Solution : MIRR is defined as modified internal rate of return, It accounts for the positive cash flows with reinvestment by using re-investment rate and negative cash flows are calculated at their present values to keep the fund aside by using finance rate. </em>

<em> As given also reinvestment rate = 20% and finance cost rate = 10%. </em>

<em> Now, from the table given of cash flows, we will calculate the future value of all cash flows in year 6. </em>

<em> FV = 4100*(1+0.20)^5 + 12000*(1+0.20)^2 + 800*(1+0.20)^0 = $28282.11 </em>

<em> Now,</em>

<em> By applying the rate of   we will computer teh PV of -ve cash flows : </em>

<em> PV = -2000/(1+0.1)^2 + -7000/(1+0.1)^3 + -700/(1+0.1)^5 = -$7346.73 </em>

<em> Now MIRR can be calculated by using the formula , MIRR = \√[n]{FV(positive cash flows/PV of negative cash flows)}-1 = \√[6]{28282.11/7346.74)}-1 </em>

<em> MIRR = 1.2519-1 = 0.2519 or 25.19% </em>

<em> Therefore, the only value Possible = 25.19% in this case.</em>

5 0
3 years ago
A company introduced a new low calorie version of one of its popular cold drinks. as a result, the sales of the original cold dr
sashaice [31]
This situation is known as cannibalization. Cannibalization is a marketing strategy that refers to the reduction company's see in there sales volume, revenue or market share of a current product when they release a new product. When a company releases a new product, those who are fans of their other products will likely try the new product instead of the hold which initially brings down the volume they sell and make from the initial product. 
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3 years ago
Can you arrest someone with a bench warrant?? Please help
lukranit [14]
You can arrest someone with a bench warrant.
6 0
3 years ago
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